IZEA Worldwide, Inc, the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced that it has been awarded a new contract from a Fortune 200 customer, the third and largest expansion since first engaging IZEA to handle its influencer marketing campaigns in Q2 of 2020. The scope of the mid-six figure managed services agreement is to execute influencer marketing campaigns promoting the customer’s products across multiple social platforms, including Instagram, Pinterest, and YouTube. The content will target audiences interested in DIY and home improvement projects.
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“Influencer Marketing is a natural fit for home improvement brands who are seeking to increase awareness and drive sales,” said Ted Murphy, Founder, Chairman and CEO of IZEA. “Consumers look to influencers for inspirational DIY projects and the products used to complete them, whether it be renovating a bathroom or refinishing furniture. Interest in this type of social media content soared with the sharp uptick of consumers engaging in home improvement projects last year, and the content remains an area of high interest for many new homeowners in the current real estate market.”
“We have a long history of executing successful influencer marketing campaigns for brands in this vertical,” continued Murphy. “We are thrilled to continue our expansion with this customer and bring more DIY opportunities to our network of creators.”
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Bookings are a measure of all sales orders minus any known cancellations or refunds in the same time period with respect to such sales orders or refunds. Management uses bookings to inform expectations of total sales activity. Bookings are not always an indicator of revenue for the quarter and could be subject to future adjustment. Revenue from Managed Services bookings are typically recognized over a 9-month period on average, though larger contracts may be recognized over longer periods of time. IZEA recognizes Managed Services revenue based on a percentage of completion.
IZEA recently announced that Managed Services bookings in Q2 of 2021 increased 187% to $11.1 million as compared to Q2 of 2020, which were $3.9 million. IZEA’s net income and cash flow results will be announced, along with the rest of the company’s financial performance, as part of its Q2 earnings release, which is tentatively scheduled for August 12, 2021.